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NICE Ltd. (NICE) 10-Year Financial Performance & Capital Metrics

NICE • • Industrial / General
TechnologyApplication SoftwareArtificial Intelligence & AnalyticsAI Analytics Platforms
AboutNICE Ltd., together with its subsidiaries, provides cloud platforms for AI-driven digital business solutions worldwide. It offers CXone, a cloud native open platform that supports contact centers ranging from small single sites to distributed remote agents and enterprises; Enlighten, an AI engine for CX that discovers automation opportunities for self-service; digital-entry points solutions that enable organizations to address consumers' needs; and journey orchestration solutions that empower organizations to connect and route customers to deal with the customer's request, and connecting them using real time AI-based routing. The company also provides smart self service solutions that empower organizations to build intelligent automated conversations based on data; and prepared agent solutions and tools enable contact center agents to guide and alert them in real time so they can provide resolutions; complete performance solutions that help organizations to record structured and unstructured customer interaction and transaction data; and NICE Evidencentral, an digital evidence management platform for public safety emergency communications, law enforcement, and criminal justice helps agencies. In addition, it offers X-Sight, is an open and flexible AI-cloud platform for financial crime and compliance; Xceed, a cloud platform for comprehensive AML and fraud prevention for small and mid-sized organizations; data intelligence solutions that enable organizations to turn raw data into comprehensive actionable intelligence to prevent and detect financial crimes; AI and analytics technologies to detect and prevent financial crimes in real-time; money laundering and fraud prevention solutions that help organizations adhere to capital markets compliance and anti-money laundering compliance regulations; intelligent investigations solutions; and self-service solutions that provide organizations with customization and self-development capabilities. The company was formerly known as NICE-Systems Ltd. and changed its name to NICE Ltd. in June 2016. NICE Ltd. was founded in 1986 and is based in Ra'anana, Israel.Show more
  • Revenue $2.74B +15.0%
  • EBITDA $751M +24.6%
  • Net Income $443M +30.8%
  • EPS (Diluted) 6.76 +32.3%
  • Gross Margin 66.75% -1.4%
  • EBITDA Margin 27.46% +8.3%
  • Operating Margin 19.96% +9.0%
  • Net Margin 16.18% +13.7%
  • ROE 12.72% +20.5%
  • ROIC 11.2% +18.9%
  • Debt/Equity 0.16 -33.0%
  • Interest Coverage 103.60 +94.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 18.9%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 26.8% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 11.7%
  • ✓Healthy 5Y average net margin of 13.0%

✗Weaknesses

  • ✗Weak momentum: RS Rating 16 (bottom 16%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.46%
5Y11.69%
3Y12.5%
TTM9.24%

Profit (Net Income) CAGR

10Y15.69%
5Y18.94%
3Y30.48%
TTM32.1%

EPS CAGR

10Y14.87%
5Y18.61%
3Y31.39%
TTM36.22%

ROCE

10Y Avg9.44%
5Y Avg10.17%
3Y Avg11.54%
Latest13.97%

Peer Comparison

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FICOFair Isaac Corporation37.49B1581.1959.5815.91%32.75%2.05%
DSGXThe Descartes Systems Group Inc.7.62B88.5754.0113.63%22.1%10%2.79%0.01
MANHManhattan Associates, Inc.10.58B175.5750.0212.23%20.25%69.86%2.71%0.16

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+926.87M1.02B1.33B1.44B1.57B1.65B1.92B2.18B2.38B2.74B
Revenue Growth %-0.08%0.1%0.31%0.08%0.09%0.05%0.17%0.14%0.09%0.15%
Cost of Goods Sold+303.58M337.73M468.67M496.81M531.77M561.95M624.46M683.69M768.17M909.52M
COGS % of Revenue0.33%0.33%0.35%0.34%0.34%0.34%0.33%0.31%0.32%0.33%
Gross Profit+623.28M677.81M863.48M947.7M1.04B1.09B1.3B1.5B1.61B1.83B
Gross Margin %0.67%0.67%0.65%0.66%0.66%0.66%0.67%0.69%0.68%0.67%
Gross Profit Growth %-0.02%0.09%0.27%0.1%0.1%0.04%0.19%0.15%0.07%0.13%
Operating Expenses+457.18M543.63M713.41M750.09M803.43M844.02M1.03B1.16B1.17B1.28B
OpEx % of Revenue0.49%0.54%0.54%0.52%0.51%0.51%0.54%0.53%0.49%0.47%
Selling, General & Admin316.17M384.92M490.4M523.98M567.33M587.17M761.6M856.36M851.4M916.41M
SG&A % of Revenue0.34%0.38%0.37%0.36%0.36%0.36%0.4%0.39%0.36%0.34%
Research & Development128.49M141.53M181.11M183.83M193.72M218.18M271.19M306.07M322.71M360.61M
R&D % of Revenue0.14%0.14%0.14%0.13%0.12%0.13%0.14%0.14%0.14%0.13%
Other Operating Expenses-425K-480K-19K38K42.38M38.67M0002.77M
Operating Income+166.11M134.18M150.07M197.62M238.72M242.05M263.91M335.17M435.23M545.95M
Operating Margin %0.18%0.13%0.11%0.14%0.15%0.15%0.14%0.15%0.18%0.2%
Operating Income Growth %0.49%-0.19%0.12%0.32%0.21%0.01%0.09%0.27%0.3%0.25%
EBITDA+224.07M211.98M306.37M354.76M411.95M424.07M448M511.72M602.59M750.97M
EBITDA Margin %0.24%0.21%0.23%0.25%0.26%0.26%0.23%0.23%0.25%0.27%
EBITDA Growth %0.21%-0.05%0.45%0.16%0.16%0.03%0.06%0.14%0.18%0.25%
D&A (Non-Cash Add-back)57.96M77.8M156.3M157.14M173.23M182.03M184.09M176.55M167.36M205.02M
EBIT166.11M146.34M145.52M204.77M253.11M254.61M256.39M349.05M461.4M549.12M
Net Interest Income+6.43M3.44M-20.63M-10.51M-2.61M-4.66M-19.35M8.69M25.95M59.71M
Interest Income7.27M6.56M3.69M11.3M20.53M19.14M13.95M18.38M34.07M64.98M
Interest Expense66K2.2M24.32M21.81M23.14M23.8M33.31M9.69M8.18M5.27M
Other Income/Expense5.3M10.3M-20.41M-10.9M-4.44M-4.86M-23.29M10.16M22.47M58.87M
Pretax Income+171.41M144.48M129.66M186.72M234.27M237.19M240.62M345.33M457.7M604.83M
Pretax Margin %0.18%0.14%0.1%0.13%0.15%0.14%0.13%0.16%0.19%0.22%
Income Tax+30.83M21.41M-13.63M27.38M48.37M40.84M41.4M79.39M119.4M162.24M
Effective Tax Rate %1.51%0.81%1.11%0.85%0.79%0.83%0.83%0.77%0.74%0.73%
Net Income+258.83M116.92M143.29M159.34M185.9M196.35M199.22M265.94M338.3M442.59M
Net Margin %0.28%0.12%0.11%0.11%0.12%0.12%0.1%0.12%0.14%0.16%
Net Income Growth %1.51%-0.55%0.23%0.11%0.17%0.06%0.01%0.33%0.27%0.31%
Net Income (Continuing)140.58M123.07M143.29M159.34M185.9M196.35M199.22M265.94M338.3M442.59M
Discontinued Operations118.25M000000000
Minority Interest0000024.57M12.87M13.34M13.37M13.42M
EPS (Diluted)+4.221.922.312.522.882.982.984.005.116.76
EPS Growth %1.5%-0.55%0.2%0.09%0.14%0.03%0%0.34%0.28%0.32%
EPS (Basic)4.351.962.372.602.993.143.154.175.326.97
Diluted Shares Outstanding61.28M61.03M62.12M63.31M64.66M65.96M66.9M66.47M66.27M65.51M
Basic Shares Outstanding59.55M59.67M60.44M61.39M62.12M62.71M63.19M63.79M63.59M63.48M
Dividend Payout Ratio0.15%0.33%0.07%-------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+655.15M509.23M693.06M861.24M875.69M1.94B2.3B2.42B2.31B2.5B
Cash & Short-Term Investments425.13M187.31M392.25M485.83M439.1M1.46B1.42B1.57B1.41B1.62B
Cash Only325.93M157.03M328.3M242.1M228.32M442.27M378.66M529.6M511.8M481.71M
Short-Term Investments99.19M30.29M63.95M243.73M210.77M1.02B1.05B1.04B896.04M1.14B
Accounts Receivable201.74M287.8M260.3M321.2M326.57M308.93M400.57M519.39M585.15M648.19M
Days Sales Outstanding79.45103.4471.3281.1675.7368.4276.1186.9189.8386.5
Inventory6.2M4.72M9.01M3.43M3.39M00000
Days Inventory Outstanding7.455.17.022.522.33-----
Other Current Assets35.35M32.12M34.37M5.11M50.63M93.88M395.84M231.12M229.87M128.96M
Total Non-Current Assets+1.19B2.12B2.15B2.35B2.73B2.29B2.41B2.44B2.8B2.79B
Property, Plant & Equipment39.21M87.68M118.28M140.34M247.84M234.95M230.71M262.18M278.98M278.38M
Fixed Asset Turnover23.64x11.58x11.26x10.29x6.35x7.01x8.33x8.32x8.52x9.83x
Goodwill651.11M1.28B1.32B1.37B1.38B1.5B1.61B1.62B1.82B1.85B
Intangible Assets69.58M618.74M551.35M508.23M411.02M366M295.38M209.6M305.5M231.35M
Long-Term Investments403.25M98.73M132.82M245M542.39M00000
Other Non-Current Assets17.18M18.7M19.5M74.04M124.03M153.66M224.44M231.5M219.33M212.51M
Total Assets+1.85B2.63B2.85B3.21B3.61B4.23B4.71B4.85B5.12B5.3B
Asset Turnover0.50x0.39x0.47x0.45x0.44x0.39x0.41x0.45x0.46x0.52x
Asset Growth %0.13%0.42%0.08%0.13%0.13%0.17%0.11%0.03%0.05%0.03%
Total Current Liabilities+398.85M472.81M523.35M624.91M940.96M1.04B1.27B1.14B1.12B1.47B
Accounts Payable11.72M25.63M29.44M29.62M30.38M33.13M36.12M56.02M66.04M110.6M
Days Payables Outstanding14.0927.722.9321.7620.8521.5221.1129.9131.3844.39
Short-Term Debt021.16M00273.1M259.88M395.95M209.29M209.23M458.79M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities165.18M157.61M167.17M215.72M212.39M226.9M1.67M13.61M327.84M2.84M
Current Ratio1.64x1.08x1.32x1.38x0.93x1.86x1.81x2.12x2.06x1.70x
Quick Ratio1.63x1.07x1.31x1.37x0.93x1.86x1.81x2.12x2.06x1.70x
Cash Conversion Cycle72.8180.8355.4161.9257.21-----
Total Non-Current Liabilities+35.62M647.73M572.17M565.84M411.68M599.98M602.87M657.78M642.81M218.32M
Long-Term Debt0444.02M447.64M455.99M213.31M421.34M429.27M455.38M457.08M0
Capital Lease Obligations0000103.49M92.26M81.19M99.26M102.91M92.26M
Deferred Tax Liabilities15.04M146.95M57.8M44.14M52.51M32.11M7.43M7.34M8.6M1.97M
Other Non-Current Liabilities20.57M34.06M29.18M30.6M16.33M17.98M18.38M38.59M21.77M57.81M
Total Liabilities434.46M1.12B1.1B1.19B1.35B1.64B1.87B1.8B1.76B1.69B
Total Debt+0465.18M447.64M455.99M589.91M795.89M925.91M777.46M782.97M563.6M
Net Debt-325.93M308.15M119.34M213.89M361.58M353.63M547.26M247.87M271.17M81.89M
Debt / Equity-0.31x0.26x0.23x0.26x0.31x0.33x0.25x0.23x0.16x
Debt / EBITDA-2.19x1.46x1.29x1.43x1.88x2.07x1.52x1.30x0.75x
Net Debt / EBITDA-1.45x1.45x0.39x0.60x0.88x0.83x1.22x0.48x0.45x0.11x
Interest Coverage2516.76x61.02x6.17x9.06x10.31x10.17x7.92x34.59x53.20x103.60x
Total Equity+1.42B1.51B1.75B2.02B2.26B2.59B2.84B3.06B3.35B3.6B
Equity Growth %0.17%0.07%0.16%0.15%0.12%0.15%0.1%0.08%0.1%0.07%
Book Value per Share23.0924.7628.1631.8534.9139.2542.4245.9750.6255.01
Total Shareholders' Equity1.42B1.51B1.75B2.02B2.26B2.56B2.83B3.04B3.34B3.59B
Common Stock17.98M18.28M18.59M18.85M18.96M18.96M18.96M18.96M18.96M18.96M
Retained Earnings632.19M710.91M850.77M1.07B1.26B1.45B1.65B1.93B2.26B2.7B
Treasury Stock-445.02M-488.57M-507.7M-527.42M-554.15M-574.36M-625.81M-743.05M-1.01B-1.34B
Accumulated OCI-24.2M-46.82M-32.91M-46.62M-33.3M-16.66M-39.74M-111.25M-59.11M-71.07M
Minority Interest0000024.57M12.87M13.34M13.37M13.42M

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+244.73M220.34M394.66M396.61M374.16M480.31M461.82M479.71M561.43M832.64M
Operating CF Margin %0.26%0.22%0.3%0.27%0.24%0.29%0.24%0.22%0.24%0.3%
Operating CF Growth %0.34%-0.1%0.79%0%-0.06%0.28%-0.04%0.04%0.17%0.48%
Net Income111.5M126.07M143.29M159.34M185.9M196.35M199.22M265.94M338.3M442.59M
Depreciation & Amortization57.96M77.8M156.3M157.14M173.23M182.03M184.09M176.55M167.36M205.02M
Stock-Based Compensation28.45M40.55M56.98M67.22M80.86M101.67M153.03M182.7M176.66M182.07M
Deferred Taxes10.58M-25.91M-70.88M-30.17M-12.21M-33.24M-39.32M-52.62M-66.62M-40.26M
Other Non-Cash Items-1.48M-7.79M13.42M9.2M6.14M11.16M38.56M14.3M22.04M-6.36M
Working Capital Changes37.72M9.63M95.56M33.88M-59.77M22.35M-73.78M-107.16M-76.3M49.59M
Change in Receivables-56.36M-31.78M37.73M-72.58M-29.86M22.25M-85.78M-129.71M-34.29M-61.02M
Change in Inventory4.11M20.11M18.7M18.24M-44.19M00000
Change in Payables2.17M4.39M2.67M-3.53M777K4.09M-389K19.92M3.43M43.97M
Cash from Investing+-28.39M-800.02M-212.98M-460.76M-344.29M-465.07M-261.5M-152.35M-293.58M-397.4M
Capital Expenditures-17.98M-36.28M-67.83M-63.67M-61.97M-24.19M-24.77M-31.89M-29.2M-34.96M
CapEx % of Revenue0.02%0.04%0.05%0.04%0.04%0.01%0.01%0.01%0.01%0.01%
Acquisitions----------
Investments----------
Other Investing186.14M-9.15M-97.06M-324.55M1K-39.1M-42.44M-50M-54.97M-64.81M
Cash from Financing+-71.79M413.31M-14.83M-16.27M-42.66M196.84M-261.82M-164.5M-290.27M-456.6M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-38.24M-38.2M-9.64M0000000
Share Repurchases----------
Other Financing27.23M23.52M19.24M19.05M5.43M8.87M-11.33M577K799K104.7M
Net Change in Cash----------
Free Cash Flow+226.75M184.06M326.84M332.94M312.19M417.02M394.61M397.82M477.25M732.87M
FCF Margin %0.24%0.18%0.25%0.23%0.2%0.25%0.21%0.18%0.2%0.27%
FCF Growth %0.38%-0.19%0.78%0.02%-0.06%0.34%-0.05%0.01%0.2%0.54%
FCF per Share3.703.025.265.264.836.325.905.997.2011.19
FCF Conversion (FCF/Net Income)0.95x1.88x2.75x2.49x2.01x2.45x2.32x1.80x1.66x1.88x
Interest Paid107K2.2M7.91M12.32M11.49M7.83M688K2.97M1.22M236K
Taxes Paid53.65M28.4M33.03M42.86M65.2M83.25M97.26M123.59M210.44M120.34M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)19.69%7.99%8.79%8.46%8.7%8.1%7.34%9.03%10.56%12.72%
Return on Invested Capital (ROIC)11.78%6.92%6.1%7.23%7.38%6.53%6.26%7.52%9.42%11.2%
Gross Margin67.25%66.74%64.82%65.61%66.21%65.9%67.5%68.66%67.69%66.75%
Net Margin27.93%11.51%10.76%11.03%11.81%11.91%10.37%12.19%14.23%16.18%
Debt / Equity-0.31x0.26x0.23x0.26x0.31x0.33x0.25x0.23x0.16x
Interest Coverage2516.76x61.02x6.17x9.06x10.31x10.17x7.92x34.59x53.20x103.60x
FCF Conversion0.95x1.88x2.75x2.49x2.01x2.45x2.32x1.80x1.66x1.88x
Revenue Growth-8.38%9.57%31.18%8.43%8.96%4.71%16.57%13.54%9%15.05%

Revenue by Segment

2013201420152016201720192020202120222023
Cloud-----885.6M777.33M1.43B1.3B1.58B
Cloud Growth-------12.23%83.87%-9.37%22.12%
Service-----928.05M687.53M851.22M650.12M641.39M
Service Growth-------25.92%23.81%-23.63%-1.34%
Product-----292.03M183.15M265.09M235.85M154.3M
Product Growth-------37.28%44.74%-11.03%-34.58%
Customer Engagement---754.4M1.05B-----
Customer Engagement Growth----39.36%-----
Financial Crime and Compliance---261.14M280.8M-----
Financial Crime and Compliance Growth----7.53%-----
Customer Interactions Solutions592.3M612.16M688.06M-------
Customer Interactions Solutions Growth-3.35%12.40%-------
Financial Crime And Compliance Solutions163.05M197.2M238.81M-------
Financial Crime And Compliance Solutions Growth-20.94%21.10%-------
Security Solutions193.94M202.28M--------
Security Solutions Growth-4.30%--------

Revenue by Geography

2013201420152016201720192020202120222023
Americas596.66M665.47M----1.35B1.57B1.8B1.99B
Americas Growth-11.53%-----15.78%15.02%10.23%
EMEA215.56M230.25M192.64M189.22M186.27M212.25M180.18M236.12M245.2M244.52M
EMEA Growth-6.81%-16.33%-1.77%-1.56%13.95%-15.11%31.05%3.84%-0.28%
Asia Pacific128.72M106.8M99.9M101.5M106.32M123.16M110.19M114.38M129.42M142.84M
Asia Pacific Growth--17.03%-6.46%1.61%4.74%15.84%-10.53%3.80%13.15%10.37%
ISRAEL--4.23M--3.95M4.37M3.84M4.48M3.51M
ISRAEL Growth------10.58%-12.11%16.80%-21.77%
United States---720.52M1.04B-----
United States Growth----43.77%-----
Israel8.34M9.13M-4.29M3.69M-----
Israel Growth-9.46%---14.02%-----
UNITED STATES--630.1M-------
UNITED STATES Growth----------

Frequently Asked Questions

Valuation & Price

NICE Ltd. (NICE) has a price-to-earnings (P/E) ratio of 17.1x. This is roughly in line with market averages.

Growth & Financials

NICE Ltd. (NICE) reported $2.88B in revenue for fiscal year 2024. This represents a 263% increase from $793.8M in 2011.

NICE Ltd. (NICE) grew revenue by 15.0% over the past year. This is strong growth.

Yes, NICE Ltd. (NICE) is profitable, generating $561.1M in net income for fiscal year 2024 (16.2% net margin).

Dividend & Returns

NICE Ltd. (NICE) has a return on equity (ROE) of 12.7%. This is reasonable for most industries.

NICE Ltd. (NICE) generated $711.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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